Notice of Rulings, Notice of Addenda, Notice of Withdrawal

TD 2013/9

Fringe benefits tax:  for the purposes of section 39A of the Fringe Benefits Tax Assessment Act 1986 what is the car parking threshold for the fringe benefits tax year commencing on 1 April 2013.

The Determination outlines the car parking threshold for the fringe benefits tax year commencing on 1 April 2013.

The Determination applies to the FBT year commencing on 1 April 2013.

CR 2013/28

Income tax:  Victorian Department of Sustainability and Environment – Bushbroker Scheme (Method 1)

The Ruling sets out the Commissioner’s opinion on the way certain provisions of the Income Tax Assessment Act 1997 apply to owners of land who participate in the Bushbroker Scheme (Method 1).

The Ruling applies from 1July 2012 to 30 June 2013.

CR 2013/29

Income tax:  Victorian Department of Sustainability and Environment – Bushbroker Scheme (Method 2)

The Ruling sets out the Commissioner’s opinion on the way certain provisions of the Income Tax Assessment Act 1997 apply to owners of land who participate in the Bushbroker Scheme (Method 2).

The Ruling applies from 1July 2012 to 30 June 2013.

PR 2013/8

Income tax:  Heathcote Ridge Vineyard Project No. 2

The Ruling sets out the consequences for members of the scheme referred to as the Heathcote Ridge Vineyard Project No. 2.

The Ruling applies only to the specified class of entities that entered into the scheme set out in paragraphs 31 to 91 of PR 2008/19 on or after 27 February 2008 and on or before 31 May 2008.

PR 2013/9

Income tax:  Heathcote Ridge Vineyard Project (May 2006 Growers)

The Ruling sets out the consequences for members of the scheme referred to as the Heathcote Ridge Vineyard Project (May 2006 Growers).

The Ruling applies only to the specified class of entities that entered into the scheme set out in paragraphs 17 to 63 of PR 2006/95 on or after 24 May 2006 and on or before 31 May 2006.

PR 2013/10

Income tax:  Heathcote Ridge Vineyard Project (October 2006 Growers)

The Ruling sets out the consequences for members of the scheme referred to as the Heathcote Ridge Vineyard Project (October 2006 Growers).

The Ruling applies only to the specified class of entities that entered into the scheme set out in paragraphs 17 to 63 of PR 2006/117 on or after 19 July 2006 and on or before 31 October 2006.

PR 2013/11

Income tax:  Heathcote Ridge Vineyard Project (May 2007 Growers)

The Ruling sets out the consequences for members of the scheme referred to as the Heathcote Ridge Vineyard Project (May 2007 Growers).

The Ruling applies only to the specified class of entities that entered into the scheme set out in paragraphs 17 to 63 of PR 2006/118 on or after 19 July 2006 and on or before 31 May 2007.

GSTR 2000/30

Goods and services tax:  supplies that are GST‑free for pre‑school, primary and secondary education courses

The Addendum amends Goods and Services Tax Ruling GSTR 2000/30 to reflect amendments to the A New Tax System (Goods and Services Tax) Act 1999. In particular, the Addendum updates GSTR 2000/30 for amendments made to Subdivision 29‑C.

The amendments to Subdivision 29‑C are in relation to tax invoices and apply to net amounts for tax periods starting on or after 1 July 2010.

The Addendum also makes further minor amendments to GSTR 2000/30 to correct other minor technical changes and to update the references section of GSTR 2000/30.

The Addendum explains the Commissioner’s view of the law as it applies from 1 July 2010.

GSTR 2002/3

Goods and services tax:  prizes

The Addendum amends Goods and Services Tax Ruling GSTR 2002/3 to clarify the treatment of monetary prizes paid in relation to supplies that are GST‑free. In particular, it provides advice on the application of legislative amendments made in 2010 in relation to the calculation of ‘total monetary prizes’ under the GST global accounting system for gambling supplies.

The Addendum applies both before and after its date of issue.

GSTR 2004/4

Goods and services tax:  assignment of payment streams including under a typical securitisation arrangement

The Addendum amends Goods and Services Tax Ruling GSTR 2004/4 to reflect amendments to the A New Tax System (Goods and Services Tax) Act 1999. In particular, the Addendum updates GSTR 2004/4 for amendments made to Subdivision 29-C.

The amendments to Subdivision 29-C are in relation to tax invoices and apply to tax periods starting on or after 1 July 2010.

The Addendum also makes further minor amendments to GSTR 2004/4 to correct other minor technical changes and to update the references section of GSTR 2004/4.

The Addendum explains the Commissioner's view of the law as it applies from 1 July 2010.

PR 2008/6

Income tax:  tax consequences of investing in the UBS Protected Geared Investment – 2007 Product Disclosure Statement

The Addendum amends Product Ruling PR 2008/6 to:

• incorporate amendment to Division 247 of the Income Tax Assessment Act 1997 (ITAA 1997) and Division 247 of the Income Tax (Transitional Provisions) Act 1997 to adjust the benchmark interest rate used to determine the cost of capital protection on a capital protected borrowing from the Reserve Bank of Australia’s Indicator Lending Rate for Personal Unsecured Loans to the RBA’s Indicator Lending Rate for Standard Variable Housing Loans plus 100 basis points; and
• reflect the ATO view with respect to the application of Division 247 of the ITAA 1997 to interest incurred on the Interest Funding Loan, as set out in Taxation Determination TD 2013/1.

The Addendum applies on and from 30 January 2008.

TD 2012/D11

Income tax:  does subsection 820-39(3) of the Income Tax Assessment Act 1997 only apply to special purpose entities that have been established for the purpose of carrying on securitisation activity?

Taxation Determination TD 2012/D11 is withdrawn with effect from today.